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>>> these are your headlines. >> a tough start to a new month for equities as all through u.s. indexes snap a four month winning streak in the first day of trade after the market shut down. >> campaigning resumes as the northeast assesses the damage from super storm sandy. good and big earnings day for oil giants giants. shell sees a fall and exxonmobile due to report before the opening bell. >> growth recovery may be near. official october pmi bouncing back into expansion territory. >>> we're under way just one hour and an awful lot to to get to. >> new york city still struggling to right itself after monday's super storm. one stap he have the big apple will return, the mta will resume partial subway service on 14 lines. la guardia airport will also reopen at 7:00 a.m. with limited service. amtrak says it will try to restore service to penn station come friday. >> homes in bay ahead are seriously damaged or destroyed. president obama got a firsthand look with governor chris christie yesterday afternoon. >> and danielle lee joins us, she's in the town of toms river. and we kn
opened up on halloween the earliest opening ever a silver lining in this case. >> the u.s. has never experienced such a wide scale natural disaster this close to election day. both candidates had to temper their message in the wake of the storm but that could change today with five days left president obama goes back on the campaign trail with events in wisconsin, nevada and colorado. governor romney arrives in virginia a day after an event in another battleground state. >> mitt romney campaigned in florida wednesday but during his three rallies he never once mentioned president obama by name. >> i understand what it takes to get this country going again. and to bring back the kind of greatness we depend on. >> he refrained from an all out attack on the president who was visiting with disaster victims in new jersey. instead romney made his own pitch to help those affected by the storm. >> if you have the ability to help please provide some resources to people there and give calls to your loved ones and keep folks in your thoughts and prayers. it's a big part of what america is. >> th
it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm p. making real things... for real. ...that make a real difference. ♪ for real. ...that make a real difference. trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum. so that when you find the job you want you'll be a perfect fit. let's get to work. can your moisturizer do that? [ female announcer ] dermatologist recommended aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno. that was me... the day i learned i had to start insulin for my type 2 diabetes. me... thinking my only option was the vial and syringe dad used. and me... discovering once-daily
and democratic attorney general. one of our two u.s. senators was an independent, elected twice. an independent missed winning the governorship by 15,000 votes over a million passed in 1973. we were the ticket splitting capital of america. we have cents settled back into partisan voting with the rest of america. this is a very polarized era. having said that, when you have close elections you still have a band of voters who will mix and match on the ballot, either because they want to mix and match or they are simply reacting to the individual candidates. in the case of romney and kaine, i have personally been in situations where straw votes were taken among large groups and you generally find you have 3, 4, 5% of the romney boaters picking tim kane for various reasons. some of these romney voters are more moderate republicans and the like tim kane better than his opponent. are there similar voters for obama and george allen? i am sure there are. i never met one of them. but i will say this -- george allen, despite what happened in 2006, he has won from time to time in running for statewide off
the u.s., as long as the country continues on its path to democracy. cnn's jessica yellin is traveling with the president. she joins us live from yangon in myanmar. this was a historic visit. what has been the response there. >> hi, john. the response has been very warm. obviously the people we're seeing are people who want to come out and embrace the president's message. but he spoke here in this auditorium, at an historic site, to 1500 students and professionals. people who are pro-democracy, advocates, and regular citizens who just wanted to hear his message. he got a very warm reception here and the white house said that he was moved, as well, by the thousands of people who came out to greet him on the road outside the airport when he arrived. the airport gave an address in which he acknowledged that democracies are sometimes difficult and it's a struggle to get to full freedom. but he said that it is, of course, worth the effort. and he also made clear that it isn't just a visit of goodwill, it also has strategic significance with a message to another nation in the area. listen to
. overnight, he was in myanmar. the country formerly known as burma. this is the first time that a sitting u.s. president has visited that country. mr. obama met democracy activist turned lawmaker aung san suu kyi. and says the country's made great strides toward democracy in an incredibly short amount of time. >> i want to make a pledge to the people of this country, that i am confident we can keep. that is if we see continued progress towards reform our bilateral ties will grow stronger and we will do everything we can to help ensure success. >> he was on the ground there for six hours. suu kyi struck a note of caution, warning of the risks of a mirage of success in myanmar. cnn's dan lothian is traveling with the president. he will have a live report just ahead. >>> vice president joe biden gets a good look at what superstorm sandy left behind in seaside heights, new jersey. he met with first responders who lost their homes. he also checked out the battered coastline by helicopter yesterday. president obama vows to help the area make a complete recovery. >> but the president's made it clear
, should investors be looking outside the u.s. glove up their it has not these people's concerns about their money and savings. our next guest talks about why this may be outside of our borders. don't go away. liz: take a look on the screen right now. we have priceline, to travel stocks, priceline.com, strong quarterly earnings. burchard advisors part, they lead the way. 20% of the day and we have other travel sites getting swept up in all of us. a very big boost from all of this. sending green arrows all across the board for many of these, including kayak and orbitz. getting to big news. this has become a staging area for emergency vehicles. coming to us courtesy of wnyw. everyone is waiting with the emergency vehicles, ambulances, waiting. the question is, what do they waited -- what are they waiting for? due to gridlock issues and other issues, it is not looking good. some people say that it is good to keep business up and it is good to keep going, but sometimes it's not easy during the state street investor sentiments may be a little too lax. we have a guest joining us on a fox bus
. >> woodruff: the u.s. death toll from the giant storm named sandy has risen to at least 63 today. about 6.5 million homes and businesses are still without electricity though there were signs of daily life returning to its usual rhythm in some places. a familiar sound returned to lower manhattan streets last night. ( horns honking ) the power did not. police helped direct traffic with signals still dark, but one taxi driver said it wasn't worth the risk. >> it's been dangerous. i've got to go home, i'll walk. there's no traffic signal light, no nothing there. >> woodruff: you're going home? you're done? >> i'm done already. >> woodruff: it wasn't much easier for pedestrians who made their way on foot, some with only flashlights leading the way. >> it's really unsettling because we don't have power. we don't know what's going on. we don't have anywhere to get to televisions. >> woodruff: many people flocked to mobile charging stations across the city. plugging in cell phones and other devices. but today brought some sign of things slowly returning to normal in the big apple. this morning,
jeff becker, ceo of ing u.s. investment management. ing is also the presenting sponsor at this weekend's new york city marathon. why don't we begin there. i realize that you run the investment management division, not all of ing in the americas, but you must have a perspective. a lot of new yorkers are very concerned -- some of them are angry -- that this marathon is going to go on as scheduled. did people from your company consult with the mayor, what did they say to him, to the extent you know, and do you support the decision? >> we do. the decision was taken by the mayor and the city of new york in consultation with the new york road runners. ing is the title sponsor. we support that decision. we're proud to be the title sponsor for the tenth year in a row. the marathon is a wonderful event for new york. it really represents the vitality and perseverance of new yorkers. it also has a tremendous economic benefit to the city of new york. the estimates are that annually, it gives annomi of $340 million to the city, and about $35 million to charities each year. >> it is a wonderful even
that the u.s. doesn't go into a recession? >> well, first i want to say the metaphor fiscal cliff is probably the wrong one. you step off a cliff, that's your last step. for many politicians, the real metaphor is it's a slope. they gradually go into these tax increases and spending cuts. they feel they can turn around and walk back up the slope, retroactively reverse the changes. in that circumstance, in that scenario, it creates a lot of uncertainty for businesses and for taxpayers. what will our taxes be next year? how are we going to make some plans for our business or personal finances? it's that uncertainty that's going to, i think, have adverse effects for the economy. >> okay. that makes a lot of sense. michael jones, how do you want to invest here with all this? >> i think there are times when the market is really simple. don't fight the fed. you certainly don't want to fight the fed when they've got the ecb, the bank of japan, the people's bank of china, and virtually every other central bank on their side. you've had unprecedentedly aggressive monetary stimulus. we have open-ended c
baghdad. it was one of the worst attacks against iraqi military so far this year. the u.s. soldier charged with the massacre of afghan civilians in march appeared in court on monday for a preliminary hearing to determine whether he will face a full court-martial. robert bales faces 16 counts of murder, one for each of his victims. musa mahmuddi of the afghanistan independent human rights commission called on the west to ensure the victims' families are heard. >> we strongly ask the united states that justice should be applied in a trial should be based on the principles of fair trial, and provide opportunities and time to the victims' family members to be heard in the court of the united states. >> bales was on his fourth combat tour following earlier stints in iraq and afghanistan. on monday, a former military comrade testified that robert bales had shown no remorse after committing the shootings. prosecutors are seeking the death penalty. a family in pakistan is accusing the u.s. of killing an elderly woman and wounding six of her grandchildren and a drone attack late last month. the str
was interviewed by the fbi, but it's not clear if broadwell has been questioned and if she will be. a u.s. official said petraeus was never a target of an investigation and that a tip about an affair led to that probe. now, general petraeus was scheduled to testify next week about the attack on the u.s. consulate in libya. now what happens now that he's gone? suzanne kelly is in washington with that part of this big story. >> susan, as washington reels from the announcement not only that david petraeus is stepping down from the post, but also from the admission he was having an extramarital affair, a u.s. official has said the counter intelligence unit was investigating a tip that he was having an affair because they needed to determine whether there was a potential security risk. the official telling cnn there was no suggestion that the fbi was investigating petraeus for any possible wrongdoing. now, if there were an official investigation focused on the cia director, that would have been something that the congressional oversight committees would have been briefed on. it's a matter of s
business. u.s. stock futures are flat this morning. >> the markets had a rough day yesterday. chris teens romans here to explain this big selloff. is there an explanation? >> can you see the sectors reacting to a second obama administration. let me show you what it looked like, 313 points, the first dow close below 13,000 in three months. that was the worst day of the year. more than 2% down. when i talk about the internals of the market, i'm talking about banks, insurers, cole companies, energy companies, they fell because, in fact, they think they're going to have higher costs. the markets think they're going to have higher costs in a second obama administration. you saw some obama care related stocks like hospitals up on the assumption that obama care is now secure. the internals showed us how investors in different sectors were reacting to a second obama presidency. but there were also concerns over europe and the fiscal cliff and the fact that now you have this election out of the way, you still have the very big problems still facing us. debt crisis, markets started to turn yesterda
are learning new details on iran's attempt to shoot down an unmanned u.s. aircraft. last week two russian-designed iranian warplanes fired and missed the drone as it flew in international air space. the pentagon says this will not change america's mission in the region. >> the united states communicated to the iranians we'll continue to conduct surveillance flights in international waters over the arabian gulf consistent with long standing practice in our commitment to security in the region. martha: peter doocy is live in washington. if this happens as we are now learning over a week ago, why didn't when find out about it before the election? >> reporter: the pentagon says they kept the lid on details of this incident until yesterday because the drone mission was classified. but a spokesman said it was a routine surveillance mission to monitor maritime shipping and this unmanned, unarmed drone never flew over iranian turf. >> our aircraft was never in iranian air space. it was always flying in international air space. the international recognized territorial limit is 12 nautical miles of
, chris lawrence. back to that fbi investigation, a u.s. official tells cnn that the fbi was not investigating them for any wrong doing, it was just about protecting him from blackmail, but that explanation is not setting well for some. >> the idea that the fbi is investigating the cia director for an extra marital affair is extraordinary. i have never seen it happen, and it smacks of george orwell. it's more to do than with sex. there is something going on they can't explain. >> this also raised questions regarding the role of the white house and the timing of the announcement. >> this is the key question right now in front of everybody. how extraordinary would it be that you have this type of fbi investigation into your cia director and the president is not informed of it? the word is circulating that the president was not aware that only one petraeus came to him, but it really seems to believe that someone in the white house didn't know that the fbi didn't inform the white house in some fashion. >> earlier, we talked to fran townsend who thought back to her days in the
involvement in this. they're going to broker a deal. this has been a tradition of the u.s. to come in when tensions flare to work something out and hopefully a lasting peace not one that just lasts a couple of years. >> first thing that struck me when i saw that hillary clinton with benjamin netanyahu was it didn't matter that netanyahu backed romney. all of that time wasted, all of that money wasted perhaps. speaking today with netanyahu. >> president obama asked me to come to israel with a very clear message. america's commitment to israel's security is rock solid and unwavering. that's why we believe it is essential to de-escalate the situation. the rocket attacks from terrorist organizations inside gaza on israeli cities and towns must end and a broader calm restored. >> so you hear hillary clinton there. israel saying some of the conditions that they want out of this cease fire would be having no more rockets fired out of gaza. soldiers patrolling the frontier would, in fact, not be attacked. weapons, stockpiles
an active involvement, and they're going to be there to broker a deal. this has been the tradition of the u.s. role to come in and work something out and hopefully a lasting peace not something that lasts just a couple of years before they do this again. >> the first thing that struck me again when i heard this was going on, and that hillary clinton was meeting with netanyahu, it did not matter that netanyahu backed romney. all that time wasted, all that money wasted, perhaps but he still has america at his back. here is hillary clinton. >> president obama asked me to come to israel with a very clear message. america's commitment to israel's security is rock solid and unwavering. that's why we believe it is essential to de-escalate the situation in gaza. the rocket attacks inside gaza on israeli cities and towns must end, and a broader calm restored restored. >> so you hear hillary clinton there, israel saying some of the conditions they want out of this cease-fire is no more rockets fired out of gaza, soldiers patrolling the frontier would not attack and weapons stock pile would not be rele
the battleground states that were so heavily fought over in the most expensive race in u.s. history. it was early this morning when the president appeared with his family, becoming the third consecutive two-term president we elected. not happening since the presidents jefferson, madison and monroe. president obama won both a decisive victory in both the electoral college. and here on the east, the nor'easter, a storm so fierce the governor of new jersey said it will move the state's recovery effort backward for a time. and here is a look at the skating rink we used as part of the coverage on election night. tonight, it is under a layer of swirling snow. back inside, we begin with what happened last night. the president's historic re-election to a second term. he is back on his way to the white house tonight, where kristen welker starts off the coverage. good evening. >> reporter: good evening, brian, after the grueling election, the president returns back to the white house. and with the economy limping back to health, the stakes could not be higher. the president headed back to washington where
. >> reporter: thanks very much. good morning. cautious trading here in europe likely to feed into the u.s. session today. the u.s. session ended virtually unchanged yesterday. it was functioning smoothly. among the biggest movers yesterday, facebook shares losing 4%. the first day that workers became eligible to sell shares they received when the company went public six months ago. remember, the workers watched the share prices fall to almost half its ipo value. so also question about whether we continue to see pressure on that stock with further chunks coming up. also apple lost ground yesterday. two key management changes. the key iphone software developer is leaving. he's been at the post for 15 years. it leaves concerns about management uncertainty. for now though, what we're look ago head to is earnings and adjustment jobs data. back to you. >> all right, julia, we get that jobs number tomorrow. thanks so much. >>> we turn to presidential politics. with five days until election day, president obama heading back on the campaign trail after a three day hold on campaigning to keep an ey
. it is all about the u.s. this week. the tone for the most part has been negative this morning as you can judge from the red behind me. yes the uk pmi data came in weak, points to the country potentially in contraction territory despite the better gdp figures. some concern about greece. investors seem to be standing on the sidelines until a lot of these issues are resolved or at least there's more clarity. this follows reports over the weekend that some of the ways in which spanish banks borrow at cheap rates may not have been legal. the ecb says it's exploring the issue. one of the companies weighing on the foot city, hsbc which has said it is provisioning $1.5 billion against the laundering charges. group profit slightly disappointed investors. shares down 1.4% as a result the there. but that's really it in terms of the major corporate news. ubs going through a bit of a shake up. the bond wall expresses more of the mood we're seeing on the eve of the u.s. elections here. it's a rotation out of the periphery into the core. the gilts are benefiting. spain, italy seeing yields a little hig
prefer to see him executed. in fact, the u.s. attorney got up and said that he heard from many of these victims and their families who said they all -- all of the folks he said he heard from were happy or satisfied i should say, i don't want to use the term happy, but satisfied with the sentence of life without the possibility of parole. we do have just a few moments ago congressman ron barber, who worked in gabby giffords' office and succeeded her in office to fulfill the remaining part of her term came out and spoke. here's what he said he said to mr. loughner in court. >> i turned to mr. loughner and said "i hold you -- hold no hatred for you, but i'm very, very angry and sick at heart about what you did and the hurt you have imposed on all of us." i told him he must now live with this burden and he'll never see outside of a prison again. >> reporter: politics not far away from this tragedy, wolf. congressman barber running for re-election in the vote that just concluded, they're still counting the votes here in arizona to see if he's going to retain that seat. also, a lot o
pendley says he forged 4,000 bogus mortgage documents a day for major u.s. banks. and your previous experience in banking? >> none. [ticking] >> it started out as a mortgage crisis. then it slowly evolved into a credit crisis. now it's something entirely different and much more serious. >> this is a full-blown financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. >> and much of what went wrong on wall street could be traced back to something called "credit default swaps." they were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] >> it has tentacles as wide as anything i've seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest threat to the u.s. economy. >> meredith whitney was talking back in 2010 about a then- looming financial crisis involving state and local governments across the country. it was a debt crisis which some people believe could derail the recovery and require another big bailout package that no one in washin
the loss mean for the future of u.s. intelligence? concern tony shaffer on that yet. >> then, peta now targeting your kids. take a look at its latest billboard to keep turkey off the menu this thanksgiving. has this group gone too far? [turkey gobbling] >> we report, you decide: gobble, gobble, gobble. where others fail, droid powers through. introducing the new droid razr maxx hd by motorola. now more than ever droid does. [ male announcer ] jill and her mouth have lived a great life. but she has some dental issues she's not happy about. so i introduced jill to crest pro-health for life. selected for people over 50. pro-health for life is a toothpaste that defends against tender, inflamed gums, sensitivity and weak enamel. conditions people over 50 experience. crest pro-health for life. so jill can keep living the good life. crest. life opens up when you do. >> welcome back, intel community bombshell just dayed before he was scheduled to testify on benghazi, cia director general david petraeus resigns citing extra marital affair even for the future of u.s. intelligence. joining us now
abbas says he will ask to recognize a palestinian state. the u.s. has opposed upgrading their status. a man arrested in colorado after atagging a police officer with a sword. a man was runningarn an education complex with a sword yesterday. he sliced an officer's fingers when confronted. the officer shot and killed him. the officer is in critical condition. more than 1500 twilight fans are camping now the downtown los angeles this weekend to catch a glimpse of the movie, stars at the premier. the final movie in the vampire romance series opens on monday. >> shannon: what time your your flight? >> i will not be attending. >> shannon: if you showed up, there would be pandemonium, we need you here. >> reporter: i don't think that's correct. >> shannon: we need you here, peter. >> to point fingers in any one direction is a short-satellited way of making people feel good about the selection. we have issues that have to be dealt with in a lots of areas. >> shannon: rnc communications director, sean spicer says it's time for self-examination. after a disappointing election, rnc officials ar
u.s. are without power. that is progress. the peak was 8 million plus. now it is down to 3.6 million. we are getting there slowly, but surely. we have the government latest report on jobs. the unemployment rate up slightly to stock 7.9%. connell: the quality of the jobs, though, people talk a lot about it. we will weigh in on that and the markets coming up next. ♪ follow the wings. connell: back to our big economic headline today, the u.s. economy adding -- joining us down in florida where i am told he voted today. >> i did, i voted today. i have to watch out for the weather. connell: that is the big question. you know, in terms of how that will affect the election. in terms of numbers today, we said this would be the big number ahead of the election. 7.9% unemployment, hundred 70 plus jobs. >> i do not know about the election. the report is a good report. it is above estimates. the revisions were good. two things are good in this report. incomes did not write so much. they are better than what we used to get. we look back and say, hey, we created a half million jobs within the las
and a half weeks before the september 11th terrorist attacks on benghazi on august 159. the u.s. mission in benghazi held an emergency meeting and august 16th a secret table was sent to the state department that laid out the concerns our team on the ground had at the time. and top of the list was consulate security. the guards did not think they could protect the consulate. the state department says al qaeda had training camps in benghazi and we got our hands on the direct quote from the cable rso regional security officer expressed concerns with theable to defend post in the event of a coordinated attack due to limited manpower, security measures, post nation support security and the over all size of the compound. they also said security in benghazi was trading negatively and they were becoming more brazen with their operations because they weren't scared of the libyan security force or the libyan police cracking down on them. so they told the state department in washington that the team in benghazi was going to ask for more security at their compound to keep them safe even though they
major u.s. allies. france and england. it was a fight over control of the suez canal. the american president at that time, in 1956, was, of course, dwight eisenhower. republican. he was running for re-election against the democratic candidate that year, adlai stevenson. talk about an october surprise. that year it was eight days before election day. both candidates are forced to deal with an unexpected and genuine giant foreign policy crisis. >> on sunday the israeli government ordered total mobilization. on monday, their armed forces penetrated deeply into egypt and to the vicinity of the suez canal, nearly 100 miles away. and on tuesday, the british and french governments delivered a 12-hour ultimatum to israel and egypt, now followed up by armed attack against egypt. the united states was not consulted in any way about any phase of these actions. nor were we informed of them in advance. >> president eisenhower sounding kind of mad, right? the u.s. had not been informed about the attack ahead of time. because ike had made clear to our allies, to england specifically, that he didn
are still doing the grim work of finding sandy's victims. and as i said the death toll in the u.s. has risen to at least 106 people. many areas are still without power. and authorities warn that it could be a week, a week before they get it back. 2.7 million households in the dark. nearly 3 million. electricity not the only thing in short supply. gas lines are still a reality for people in new york and new jersey and millions of gallons of fuel are being trucked to those affected areas. well, new jersey governor chris christie has ordered rationing in dozens of counties there. despite all the suffering there are signs of hope. >> 80% of the subway service has been restored. that is under literally in under one week. 80% of the subway service has been restored from what was horrendous damage. >> and workers are busy securing the crane that left dangling by sandy's fierce winds. look at that thing, officials say it could take up to 36 hours to finish that job. you know, the economy is a huge issue in the election, and here in ohio, why are the people in the state with one of the lowest unemplo
's talk about u.s. treasuries for a second. there was a report today that investors are turning cautious on u.s. treasuries. you believe that? >> and heard the same story two years ago and and i don't believe them in amount than we were two years ago. i don't really think there's a lot of money that's going to fly out of treasuries. why is that? because we are still the world's biggest consumer. how do you find the world's biggest consumer? you lend the money. the u.s. government is still issuing tons of debt. so i don't think richard was love. double the yield little bit less of a risk remapped. gerri: i want to hear what you have to say about the new york stock exchange. they said the people who work here are not going to be safe unless they can stay home and not worry about it. we make of that? >> i think it makes sense. i agree. i think they would have been in harms way. but the question is did you really need those people down there or it. >> exactly. >> there is a report from just a couple weeks ago, year-over-year volumes is down 35%. exchanges like direct editor taking all that o
service, are other service problems hindering what you are doing? >> well, again, u.s. electric system is most reliable electric system in the world. but with a storm of a millennium, that has never been seen before that knocks out power to over 8 million people, and then brings in water and wind, it is a very difficult tough job. it does rely on a lot of different people working together. we're working in new york with mayor, and governor, and others to bring in every resource we can to get water pumped out to get on with the job of trying to restore electricity. but it is -- it is a huge job. i understand people's frustration,veryone depends on electricity, it affects every part of our lives, we understand how important it is for customers to have it. gerri: and dan, i think their frustration goes beyond, that we're looking at pictures of houses burning. some situation may not in your district that are dire, really, and truly dire, you know, here in new york city we're not used to this, this happens elsewhere, this is a new experience for us, a lot going on downtown near the new york
carrying products between u.s. ports to fly under the u.s. flag, be built in the u.s., and be crude mostly be u.s. citizens the fact they're waiving that will hopefully expedite more fuel in here. what are they doing on the ground? trying to get the power to restored to gas stations that don't have power. you can't pump gas if you don't have power. power is restored to the terminals to get the fuel, of course, on to the trucks. that's a priority. now, there are trucks moving and there is gas here. the issue are those other two issues really kind of slowing things down and then by the way, we still have some of these huge massive refineries taken off-line trying to get them up and running but that could be a while as well. this part of the country consumes more oil, more gas, than any ear part of the country on a daily basis. it drinks it. they have goat this stuff moving not only to power cars but generators because of people, people don't have any electricity. they need generators to stay warm. let me tell you, andrea, it is cold. it was about 38 this morning at the moment we're about 49
softer condition and background in europe politically. and i think improving conditions here in the u.s. for the consumer and for manufacturing and for gdp in general. our general background is pretty positive. >> great points there. sandy, what about you? you say regardless of who wins the election, the fiscal cliff would be either downsized or deferred. what does that mean? >> well, i think downsizing is more likely. have you to factor in the hurricane as well because that's going to be a half a percentage point decline as well, coupled with, you need to get that fiscal cliff down to 1% or maybe 0.5%. i think the downsizing has to be pretty substantial. they're either going to have to defer it to the new congress and either a new administration or the existing one, but they've got to get it downsized pretty substantially pretty quickly. and it's going to require, because of that gridlock we're going to have again, a bipartisan concurrence. that's going to be the test in 2013. >> chris, what do you think? how do you want to invest with $1.5 billion under management, how are you allocat
of spending cuts and tax increases that could push the u.s. into another recession. maria bartiromo is the host of cnbc's "closing bell." >> well, people are putting two and two together, saying wall street dropped the day after the election. simple question, why? >> you're absolutely right. well, first off, people are worried about higher taxes, higher regulation under it had obama presidency. but also, it is this near-term worry about the fiscal cliff. at the end of this year, we will see $600 billion of spending go away. there are spending cuts coming, that means, defense companies, transportation, construction, they may very well have to lay off workers. in addition to that, we've got the highest tax increase coming on virtually all income levels. these two things will coincide, and that is the fiscal cliff to basically possibly push the u.s. economy into recession unless congress does something about it. >> is wall street basically registering its doubt and skepticism that either party can come together and resolve this? >> that's right. i think we will see compromise. already
the costliest u.s. catastrophes. forecasting a cost between $10 billion and $20 billion worth of insured losses. the final tally impacted by, among other things, power in the transportation grids. as for the insurance industry with over $500 billion in capital it can pay expected claims. at last year's premium increases and a decline in catastrophe claims bulked up their profile. deutsche bank claims it could trim earnings by 36% but it could also help insurers later giving them cover to raise premiums. back to you. >>> sandynjrelief fund.org. mary pat christie is on the news line with us right now. welcome. good to have you with us. >> thanks, tyler. >> at some risk, i ask how are you and the christie family holding up? your husband and you have both then tireless this last week. gout to be pretty tired these days? >> we're doing pretty well. it's all relative, right, tyler? we don't have power yet but hopeful that we will soon. i'm also hopeful that our children get to go back to school tomorrow. >> we're in the same boat and expected to go back to school in my town montclair some time on wed
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